Word of the Week
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Monetization

/mä-​nə-​tə-​ˈzā-​shən  n.

 

The process of turning a non-revenue generating item into cash. The shortened term “monetize” (verb) has different meaning depending in the context. Monetization is essentially the final piece of a systematic look at a business model.
For-profit companies need to have a model that successfully generates revenue. A product- based reseller monetizes by selling goods at specific price points to customers.
A service provider similar charges prices for the provision of services.
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